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IN RE INTEGRATED RESOURCES, INC.

Bankruptcy No. 90-B-10411 (CB), Adv. No. 90-6034A.

123 B.R. 181 (1991)

In re INTEGRATED RESOURCES, INC., Debtor. CANADIAN IMPERIAL BANK OF COMMERCE (NEW YORK), The Chase Manhattan Bank, N.A. and Israel Discount Bank of New York, Plaintiffs, v. AIRCRAFT INCOME PARTNERS II, L.P., and First Security Bank of Utah, N.A., as Trustee, Defendants, and Integrated Resources, Inc., Intervenor-Defendant.

United States Bankruptcy Court, S.D. New York.

January 17, 1991.

Attorney(s) appearing for the Case

Sidley & Austin by Richard Epling, New York City, for plaintiffs Canadian Imperial Bank of Commerce (New York), The Chase Manhattan Bank, N.A. and Israel Discount Bank of New York.

Willkie Farr & Gallagher by Jeanne M. Luboja, Mitchel H. Ochs and Alan Lipkin, New York City, for defendants Aircraft Income Partners II, L.P. and Integrated Resources, Inc.

DECISION ON MOTIONS FOR SUMMARY JUDGMENT REGARDING CERTAIN LOAN AGREEMENTS BETWEEN PLAINTIFFS AND DEFENDANTS

CORNELIUS BLACKSHEAR, Bankruptcy Judge.

I. Factual Background

A. AIP Commences a Public Offering of Limited Partnership Units

By Prospectus, dated May 1, 1989, AIP1 commenced a public offering of up to $200,000,000 of limited partnership units. According to...

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